Petrol prices in Pakistan expected to rise from July 1 – check new rates

Fuel prices in Pakistan are likely to increase from July 1 because of a recent jump in international oil rates. According to a report by Arif Habib Limited, global diesel prices rose by more than 10% in the second half of June, while petrol prices went up by nearly 6%.

This rise happened after tensions between Israel and Iran earlier this month, which caused global oil prices to shoot up. Key crude oil types—like WTI, Brent, and Arab Light—also saw price increases of 5% to 7%.

Although a ceasefire on June 24 brought slight relief, diesel and petrol prices only dropped by 0.6% and 6.6%, which isn’t enough to stop the impact on Pakistan.

If current trends continue, diesel prices in Pakistan could go up by Rs. 18.06 per litre to Rs. 280.65, and petrol by Rs. 13.86 per litre to Rs. 272.29.

However, the government might reduce the Petroleum Development Levy (PDL) to make the hike smaller. If that happens, diesel may only rise by Rs. 4.5 and petrol by Rs. 8 per litre.

There is some hope for relief later in the month. If international oil prices keep falling, Pakistan may see a price cut in the July 15 review. Diesel could go down by Rs. 13.47 and petrol by Rs. 5.89 per litre.

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